What is a good ratio for salary to auto-loan?

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What is a good ratio for salary to auto-loan?

I am looking to buy a car and would like to know what is a good ratio for income to car value?

2006-06-28 08:51:02 · 3 answers · asked by pretty.simple 1 in Business & Finance ➔ Personal Finance

3 answers

15% of available income. i am a car dealer. take your gross income(before taxes), then take out your mortgage or rent, and other car or large loan payments, that is your available income

2006-06-28 08:55:12 · answer #1 · answered by Anonymous · 0⤊ 0⤋

Pay cash for your car and you won't need to worry about debt.

2006-06-28 16:18:24 · answer #2 · answered by pappa_15 3 · 0⤊ 0⤋

it depends what your other obligations are.

2006-06-28 15:54:13 · answer #3 · answered by Guy R 3 · 0⤊ 0⤋